Even though mexico is in its worst economic recession since the 1930s, petrochemical producer Alpek (Monterrey) is doing better than ever. In 1995, the company's total sales reached peso9.6 billion ($1.4 billion), helped by increased production volumes and higher prices, edging Alpek ahead of its national chemical competitors Grupo Celanese, Desc, and Cydsa.
Alpek now accounts for 49% of the total sales of its parent, the conglomerate Grupo Industrial Alfa. Alpek CEO Jose de Jess Valdez attributes the recent success to the company's focus on high-growth markets and its commitment to being the lowest-cost producer. However, exporting 55% of its output and earning dollars was the main driver in last year's record results.
Alpek's good fortune was the result of sound investments and incredibly lucky timing as increased productivity from new capacity was combined with favorable international prices, says Bond Snodgrass, an analyst with Abaco (Mexico City). Even the devaluation of the peso helped by making it cheaper to export while …
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